Thai leasing stocks extend gains on Wednesday with Srisawad Corporation leading the group following a positive speculation in the segment.
As of 10:19 AM (Bangkok time) on Wednesday, the share price of Srisawad Corporation Public Company Limited (SET: SAWAD) rose by 8.10% or THB 1.70 to THB 22.70, with a trading value of THB 576 million.
Muangthai Capital Public Company Limited (SET: MTC) grew by 3.90% or THB 1.50 to THB 40.00, with a trading value of THB 236 million.
Tidlor Holdings Public Company Limited (SET: TIDLOR) surged by 2.25% or THB 0.40 to THB 18.20, with a trading value of THB 90 million.
JMT Network Services Public Company Limited (SET: JMT) increased by 1.83% or THB 0.20 to THB 11.10, with a trading value of THB 78 million.
The surge was due to the earnings report from Muangthai Capital yesterday that saw improving asset quality in the second quarter, sending positive sentiment to the segment as SAWAD is seen as more stabilizing financially.
Yesterday, Asia Plus Securities highlighted that yields on the U.S. bond yield with maturities from one to ten years remain below the policy rate, with the benchmark 10-year yield recently at 1.51%. This signals expectations for a rate cut before year-end, a scenario generally seen as favorable for equities.
The brokerage firm points to opportunities in hire-purchase stocks such as MTC and TIDLOR, real estate developers such as AP and SPALI, as well as high-yield stocks like ADVANC and SCC.
Meanwhile, Kasikorn Securities (KS) maintains a positive outlook on SAWAD, citing its attractive valuation with a projected PBV25 at 0.9 times, -2 standard deviations from the mean. SAWAD’s share price has lagged its peers, but the analyst believes there is potential for outperformance, especially as a sentiment play tied to expectations of a policy rate cut. Additionally, SAWAD currently offers a dividend yield of around 7%.
Looking ahead, the company’s asset quality is expected to improve in 2026, following a cleanup of its motorcycle hire-purchase loan portfolio. Losses from repossessed vehicles are also forecast to decrease, supported by better second-hand vehicle prices and stricter credit underwriting processes.
